State of New Jersey Common Pension Fund D Buys 6,230 Shares of PACCAR Inc. $PCAR

State of New Jersey Common Pension Fund D grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,018 shares of the company’s stock after buying an additional 6,230 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PACCAR were worth $17,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Brighton Jones LLC increased its position in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth boosted its stake in shares of PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Nordea Investment Management AB increased its position in shares of PACCAR by 23.0% during the second quarter. Nordea Investment Management AB now owns 100,480 shares of the company’s stock worth $9,534,000 after buying an additional 18,767 shares during the period. Stratos Wealth Partners LTD. raised its stake in PACCAR by 55.8% during the second quarter. Stratos Wealth Partners LTD. now owns 4,620 shares of the company’s stock worth $439,000 after buying an additional 1,654 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in PACCAR by 7.9% in the second quarter. Cidel Asset Management Inc. now owns 3,424 shares of the company’s stock valued at $325,000 after buying an additional 252 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 1.7%

Shares of NASDAQ:PCAR opened at $127.00 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.42 and a current ratio of 1.70. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The business’s 50 day simple moving average is $118.44 and its two-hundred day simple moving average is $106.04. The firm has a market cap of $66.70 billion, a P/E ratio of 28.16, a PEG ratio of 1.07 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. PACCAR’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 29.27%.

Insider Activity

In related news, CEO R Preston Feight sold 9,258 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at approximately $33,536,010.20. This trade represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This represents a 43.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCAR has been the subject of a number of recent analyst reports. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein set a $138.00 target price on PACCAR and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.50.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.